Electric Vehicles to Outsell the Traditional Ones

The future
where the electric cars will outnumber those fossil-fueled ones is closer than
expected last year, according to Bloomberg New Energy Finance.

The Electric vehicle report (EVO) lists the
future lithium-ion batteries prices and talks about the impact on different vehicle segments and electric vehicle models. Lithium-ion cell costs have already fallen by
73% since 2010. McKerracher said that there is being an element of competitive
dynamics and a real possibility of oversupply in the lithium ion battery market
that would serve to hammer down prices. The falling of batteries prices imply
the lowering lifetime costs of the electric vehicles and that they will be
cheaper to buy.

According to
the report, the “EVs are on the track to accelerate to 54% of new car sales by
2040”, whereas last year was predicted at 35%.

Last week
Tesla made public that Model 3, the electric car put on the market, will start
being delivered to the customers by the end of the month. In another
announcement, Volvo stated that from 2019, every of its cars produced will have an
electric motor. Also France made the decision that a ban will be put on the
sale of gas-powered car by 2040.

The authors
of the report said that even though electric vehicles are only a fraction on
the car market at the moment, the marketcould
reach an inflection point sometime between 2025 and 2030, after which the sales
would increase fast. Bloomberg New Energy Finance’s forecast for last year
predicted that the change will significantly decrease the gasoline demand, as
much as 13 million barrels of oil a day will be displaced by electric cars.